MNI: RBA LEAVES CASH RATE AT 4.35%

CHINA NOV EXPORTS +6.7% Y/Y VS MEDIAN +8.9% Y/Y: CUSTOMS

MNI: CHINA YTD EXPORTS +6.7% Y/Y IN YUAN TERM: CUSTOMS

MNI: PBOC Net Injects CNY90.3 Bln via OMO Tuesday

MNI: PBOC Sets Yuan Parity Higher At 7.1896 Tues; -1.71% Y/Y

MNI BRIEF: Inflation Expectations Tick Higher - NY Fed

EZ/UK Bond Supply Calendar: Austria, UK Auction on Tuesday

EZ/UK T-Bill Calendar: Spain, Belgium Auction on Tuesday

MNI:US OCT WHOLESALE INV 0.2%; SALES -0.1%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

BRAZIL: Campos Neto on FX, Gov't to Review Spending with Social Programs

BRAZIL
  • Diving a bit deeper into the Campos Neto interview with Globo, the central bank Governor struck a similar tone to fellow committee member Galipolo, underlining that the Copom didn’t want to anticipate what will happen at next meeting. However, he highlighted that it is necessary to look at the scenario from now on, indicating the economy is strong and although inflation has risen, the next numbers will be better. He added the market had already been placing some expectation of a rate increase, but it is important to remain calm and cautious in times of high volatility.
  • Campos Neto indicated the BCB had been close to intervening in the Brazilian real, but when it checked liquidity and other variables, the board came to a conclusion that the market was not dysfunctional, despite the sharp depreciation in late July/early August.
  • Separately, Brazil’s economic team will review spending with social programs, according to deputy Planning Minister, Gustavo Guimarães, in a broadcast event late Monday. The review will be included in 2025 budget bill, which is expected to be balanced, said Guimarães, adding that the government has the tools to comply with 2024 fiscal target.
EM BulletBulletGlobalEmerging Market NewsRegion
EM BulletBulletGlobalEmerging Market NewsRegion

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.